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the president's plan plans to reduce the deficit by almost 2 trillion through a balanced approach to spending cuts, intel now reform, and, of course, raising taxes on the wealthy. th details, the very same day the congrsional budget office announced that the current deficit for the first half of the fiscal year came in at $601 billion. the president's budget will be released on wednesday. fox news chief white house correspondent ed henry has more in this report. >> president obama has finally brought all sides together over a budget. the left apoplectic over cuts and the right furious about more tax increases. even his own aides suggest he is not sure about the plan. >> not what he would do if he were king or only people who supported his proposal or in congress. it is what he believes is a fair and balanced approach to a deficit challenge. >> the new budget is built around the president's final offer a republican speaker walked away from in the fiscal cliff talks. though he quickly noted today, in the end of the president got his tax hikes on the wealthy with no corresponding spendi
the president's plan plans to reduce the deficit by almost 2 trillion through a balanced approach to spending cuts, intel now reform, and, of course, raising taxes on the wealthy. th details, the very same day the congrsional budget office announced that the current deficit for the first half of the fiscal year came in at $601 billion. the president's budget will be released on wednesday. fox news chief white house correspondent ed henry has more in this report. >> president obama has...
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the fall on the deficit is going to be because economic growth is a little better than expected. dennis: you know, if we could just sort of push the spending debate off of the front page and worry less about the deficit, that might allow us to feel better because every time we hear governments start worrying about that, we worry there's going to be deeper cuts and we start to get a little insecure about economic growth, don't you think? >> yes. but this time it's entitlements. i think that's the big focus this summer and i'll tell you one thing. we'll not hear much about the credit rating agencies. they'll go away because we're making progress. >> exactly. okay. and lastly, what are you thinking about the brain research project? i just want to point out as much as everyone applaudes, $100 million in government money, government wasted millions of dollars trying to map the gnoe and it was only a private effort that he really got things going. why do we need government money for something like that? >> you could make a strong case that private money would do it better, more efficie
the fall on the deficit is going to be because economic growth is a little better than expected. dennis: you know, if we could just sort of push the spending debate off of the front page and worry less about the deficit, that might allow us to feel better because every time we hear governments start worrying about that, we worry there's going to be deeper cuts and we start to get a little insecure about economic growth, don't you think? >> yes. but this time it's entitlements. i think...
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it kicked back significantly coming from 171-point deficit it down about 0 points. doesn't that show there is this unrelenting momentum for buy in this market? >> well, think it is certainly supportive, dave. to sugar coat today's number but at 80,000 but if you look over the trailing three months, it is 168,000. work week expanded a little bit. average hourly earnings were flattish. this in of itself is does not necessarily indicate a pattern but certainly it is worrisome. that said the bias seems for the moment for the market to work higher and very much in a show-me state relative to deterioration that some on the more bearish side are worried about. david: adolfo, let's get to the bearish news. job numbers, no way to sugar coat them. they were bad numbers. a down-tick in the overyou will unemployment rate because people left the workforce. you said don't expect the jobs market to do much better in the nerm near term. explain why. >> well, i think there will are two fundamental reasons. one is the short term and one is a longer term. short term there is still a l
it kicked back significantly coming from 171-point deficit it down about 0 points. doesn't that show there is this unrelenting momentum for buy in this market? >> well, think it is certainly supportive, dave. to sugar coat today's number but at 80,000 but if you look over the trailing three months, it is 168,000. work week expanded a little bit. average hourly earnings were flattish. this in of itself is does not necessarily indicate a pattern but certainly it is worrisome. that said the...
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look what chicago faces, two things, one, they say they face a billion dollars deficit. what was their solution, i quote, consolidating underuniversitylized schools will allow us to safely move these children to a higher performing, welcoming school near their home with all the investments they need to thrive in the classroom. how can you say that and the billion dollar deficit and then say the teachers are looking out for the kids? no, the teachers are looking out for themselves. >> brenda: toby, this all comes down to money, isn't it? >> it is money, but also demographics, they've had an outflow of people in the areas and citizens who live in the areas, number one. number two, they've had 20 or 30,000 kids leave the public school where they have charter systems and so they're actually dropping a population of students and exodus of people to better schools and out of the area are why they're closing the schools and they're upside down a llion dollars. it's not about the kids. >> brenda: julian, your take? >> i agree with john layfield on the merit-based system and the
look what chicago faces, two things, one, they say they face a billion dollars deficit. what was their solution, i quote, consolidating underuniversitylized schools will allow us to safely move these children to a higher performing, welcoming school near their home with all the investments they need to thrive in the classroom. how can you say that and the billion dollar deficit and then say the teachers are looking out for the kids? no, the teachers are looking out for themselves. >>...
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versus trying to study alzheimer's in an age of high deficits. i think you have to make priorities. the problem newt gingrich had running for president in 2012 is he talked about mars projects. we have no money. what are you talking about? come together, talk about a public-private partnership to study the human brain and cure major illnesses that affect millions of americans, something the government can get involved
versus trying to study alzheimer's in an age of high deficits. i think you have to make priorities. the problem newt gingrich had running for president in 2012 is he talked about mars projects. we have no money. what are you talking about? come together, talk about a public-private partnership to study the human brain and cure major illnesses that affect millions of americans, something the government can get involved
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they are pursuing depression era policies, and unlike the past, they now have a deficit. they buy japanese bonds, don't do it, the government will do it. the yen will go down the drain, our price targets for the yen is worthless, infinity. the yen cannot survive that. dagen: why isn't what japan doing boosting inflation around the world because you think japan -- the effect of our monetary policy here will have a more dramatic impact globally than what japan's doing? >> that's why we have a global cries is, different phases, and, indeed, the market doesn't take it seriously. gold is flat, down today. gold should be through the roof, but it's not the the reason it's not is because right now people think it's contained. we heard this word many times over. look at england, the bank of canada goes there, introduces gdp of the like, no exit any time soon. it's going to spread, and, yes, this is inflationary throughout the globe, but at this stage, the market has concerns. >> sounds like david stockman a little bit here, a little accent. what were you going to say? dagen: assum
they are pursuing depression era policies, and unlike the past, they now have a deficit. they buy japanese bonds, don't do it, the government will do it. the yen will go down the drain, our price targets for the yen is worthless, infinity. the yen cannot survive that. dagen: why isn't what japan doing boosting inflation around the world because you think japan -- the effect of our monetary policy here will have a more dramatic impact globally than what japan's doing? >> that's why we have...
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the fist car year the federal government ran a budget deficit of just $601 billion. not that month. don't worry about it. that is 178 billion less from the the show fall recorded from same period last year. there you go. president obama to release his budget next week. fox business learns learns upper earners retirement accounts will take a big hit. get ready. rich edson at the white house with more on this. rich. oh, no? >> the president is offering few details are or the white house is. you are mentioning retirement accounts. white house is proposing capping retirement accounts, 401(k)s, ira's at $3 million. there is some suggestion the white house would ask wealthier americans pay more in the past with curbs on deductions. you can take less value from a deduction if you're wealthier taxpayer. there are changes to the way social security and other benefits are indexed, to inflation. it would slow the increases in the growth for that. and republicans say, with that, they are meeting the, the white house is saying that they're meeting republicans halfway with that. >> what the presi
the fist car year the federal government ran a budget deficit of just $601 billion. not that month. don't worry about it. that is 178 billion less from the the show fall recorded from same period last year. there you go. president obama to release his budget next week. fox business learns learns upper earners retirement accounts will take a big hit. get ready. rich edson at the white house with more on this. rich. oh, no? >> the president is offering few details are or the white house is....
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and to your point it felt like republicans forgot about how bad the economy was, the deficit, and debt, and this thing. how could that happen. is this that there is no central leadership, if feels like a rude rudeless -- rudderless ship right now. >> you are right. considering the base is the one they need to get behind the party, and base is concerned, about the solvency of our nation, about the col centsy of our state -- col centsy of our sol vents of our state. charles: i have less than a minute, i want to ask about you since sequestration it feels that president obama over played his hand, just snatching victory from defight or one of those scenarios, but, where does g.o.p. go from here, they seem to have something that proves to public, you know, the doom and bloo that president talks about with respect to living within our means did not come. it do not ered o erode our coury overnight. >> if they are smart they will picky back off that. this just reinforcing base to hold republican's feet to fire to press on. charles: tha you, katrina pearson. next time you get on a plane, you ma
and to your point it felt like republicans forgot about how bad the economy was, the deficit, and debt, and this thing. how could that happen. is this that there is no central leadership, if feels like a rude rudeless -- rudderless ship right now. >> you are right. considering the base is the one they need to get behind the party, and base is concerned, about the solvency of our nation, about the col centsy of our state -- col centsy of our sol vents of our state. charles: i have less...
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the budget deficit is not the crisis, the crisis is federal spending itself. he didn't ask all the microsoft and google and intel, transportation innovation, they have never occurred precisely because the government is spending so much. stockman writes as though we have been living high on the hog for 30 years. think how much better we would be living if the federal government hadn't been spending so much. lori: if you say you have a problem with stockman, the real spending is the crisis. some argue six of one, half a dozen of another. >> deficit is another way of financing major government spending. a dollar is a dollar is a dollar. the crisis is here and now. we have to ask ourselves how much better our lives would be if the government weren't taking so much resource from the private sector and instead leaving it to entrepreneurs to start new businesses. to once again cure cancer and heart disease. engage in transportation innovation making today's cars look pedestrian. it is what we have lost. the big government is the problem on the economy. if we cut spen
the budget deficit is not the crisis, the crisis is federal spending itself. he didn't ask all the microsoft and google and intel, transportation innovation, they have never occurred precisely because the government is spending so much. stockman writes as though we have been living high on the hog for 30 years. think how much better we would be living if the federal government hadn't been spending so much. lori: if you say you have a problem with stockman, the real spending is the crisis. some...
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they are made in 2010 when he had 20 plus deficits at the time. the government has no profit motive. there is no motive to run it efficiently. there is it a sick irony happening by the tax collection agency. it is so outrageous . these are president things that grab the public . gilligans and star trek. you get the public's attention educate them about the waste and fraud and abuse. >> mr. christian dorsey sitting in dc. the videos are funny but not so funny. >> they are horrible videos . these videos cost all of $60,000 . by producing the video, thires didn't spend a million and half inraining costs and so use thag math, that sounds like a smart and prudent move. 60,000 spent and a million and half saved. they are horrible videos by production value. >> but i have to ask you, where did you come up with a million and half dollars. >> that's what the i.r.s. said they spent. >> oh, that's what i should have taken their word. >> and if that is it the case, why would they say in today's day and age we would never make it. we are denying the back track
they are made in 2010 when he had 20 plus deficits at the time. the government has no profit motive. there is no motive to run it efficiently. there is it a sick irony happening by the tax collection agency. it is so outrageous . these are president things that grab the public . gilligans and star trek. you get the public's attention educate them about the waste and fraud and abuse. >> mr. christian dorsey sitting in dc. the videos are funny but not so funny. >> they are horrible...
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reduces most people's premiums and brings down our deficit one trillion over the next decades because we are spending our healthcare dollars more wisely and slowing the growth of healthcare costs. >> it is a big let down and new study revealing that healthcare companies would pay 32 percent more in claims . it is it will all because of the healthcare laws. you say it is a tine sign of more bad news to come. >> it was verified by kathleen sebluous. she couldn't hide the fact like president obama does. it is going to get worse. recent survey of companies now say that 50 percent of the companies are going to drop out of covering health insurance despite paying $2000 per person to do. a year ago it 30 percent. every time you look at the monstrosity, the news gets worse. >> the wall street had a well reported piece saying that premiums are going to double. >> rich is right when he pointed out secretary sebluous did identify it. >> he left out the details. this makes great headlines. let's get in to a few of the details. this only applies to individual market place . number two it does not
reduces most people's premiums and brings down our deficit one trillion over the next decades because we are spending our healthcare dollars more wisely and slowing the growth of healthcare costs. >> it is a big let down and new study revealing that healthcare companies would pay 32 percent more in claims . it is it will all because of the healthcare laws. you say it is a tine sign of more bad news to come. >> it was verified by kathleen sebluous. she couldn't hide the fact like...
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the senate barbershops run at the annual deficit of close to $400,000 every year. john: anything run by the government loses money. >> exactly. the sergeant at arms says there in the process of privatizing which could take millennium. john: of the privileges, they get to send out free mail. propaganda. one of the reasons incumbents are rarely thrown out. the top guys spend 300, 400,000 per year. john: send thompson e-mails. you're spending $400,000 per year reeducating here is to join see, you're spending way too much money. do digitally. it's free. john: it was worse. they used to be able to cash checks. >> every lawmaker used to have his own gold plated shaving cut in the grip --. they've gotten rid of that. john: progress. thank you. next, something very different. glenn beck now says he is a libertarian. how can that be true? he supported the bank bailout. warrantless wiretaps. i will confront him about this plan next. ♪ ♪ john: and now for something completely different, this year glenn beck said he is a libertarian. he is popular. he has millions of follo
the senate barbershops run at the annual deficit of close to $400,000 every year. john: anything run by the government loses money. >> exactly. the sergeant at arms says there in the process of privatizing which could take millennium. john: of the privileges, they get to send out free mail. propaganda. one of the reasons incumbents are rarely thrown out. the top guys spend 300, 400,000 per year. john: send thompson e-mails. you're spending $400,000 per year reeducating here is to join...
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what about our federal budget deficit to evacuate after work until may 9th to close the gap. look, if uncle sam really want
what about our federal budget deficit to evacuate after work until may 9th to close the gap. look, if uncle sam really want
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the facts are 5 trillion, added to deficit since president took office, and. mark, what do you make of curious george, these -- zain i'm sorry. what do you make? >> i don't want to be mark by the way. i would disagree that too late. i think time, that our congress and in particular our president maybe played this game, never too late to learn, especially when it comes to telling the truth. liz: lindsay -- i didn't mean to get upset with you mark, but come on. the data has been there. and lindsay, you saw the white house, the last couple of years putting forward a fictional julia character, and julia lives, she starts on life on head start, gets tuition credits, and ends up in a community garden, what do you make of this? >> this is the problem. that fundamental juxtaposition of deals, we're trying to teach our kids to save, and be self reliant, and then the government is pushing these ideas of government reliance. this is the fundamental argument we continue to have. we could shovel this -- solve this with one question, what if we were all julia? that is what
the facts are 5 trillion, added to deficit since president took office, and. mark, what do you make of curious george, these -- zain i'm sorry. what do you make? >> i don't want to be mark by the way. i would disagree that too late. i think time, that our congress and in particular our president maybe played this game, never too late to learn, especially when it comes to telling the truth. liz: lindsay -- i didn't mean to get upset with you mark, but come on. the data has been there. and...
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should be calling for higher spending when the federal government is running almost trillion dollar deficits and the national debt amounts to almost $70 trillion. that does not seem to me to be a partisan issue and all, just one of common sense and good judgment and responsibility. the center of the president's plan is based on government, again, picking and choosing winners, a process that has been laughably ineffective and unsuccessful in the failed ener long program. remember solyndra? and president obama laying out his latest spending proposal of taking a predictable partisan shot at congress. >> first, we will set up an independent fund that will attract private investment to build procts like this one and make sure companies share in the rest of returns, instead of picking projects based on pork bill politics, we will take them based on how much good will actually do for the economy. and a members of congress are happy to welcome projects like this in the district because i have seen him at the ribbon cuttings. lou: now he is calling for more pork barrel spending. great. super. meanwhi
should be calling for higher spending when the federal government is running almost trillion dollar deficits and the national debt amounts to almost $70 trillion. that does not seem to me to be a partisan issue and all, just one of common sense and good judgment and responsibility. the center of the president's plan is based on government, again, picking and choosing winners, a process that has been laughably ineffective and unsuccessful in the failed ener long program. remember solyndra? and...
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meanwhile, also reports that a growing number of states are ending this fiscal year with not deficits -- it's hard to imagine, but with surpluses. among them, of course, is the state of texas. taxes -- texas is projecting an almost $9 billion surplus. it has a republican governor. a fellow by the name of rick perry. north dakota is projecting over one-half billion dollars surplus . energy independence. north dakota has a republican governor. ohio is expecting a billion dollars surplus from the current fiscal year. it has a republican governor. wisconsin, a very famous republican governor projecting almost half billion dollar budget surplus. governor scott walker. i will projecting and $800 million surplus and, yes, another republican governor, tennessee, little over half a billion dollar surplus. in the state of tennessee, well, florida, n quite half, four under and $37 million in surplus again. a republican governor. i just want to us here at a shout out, if i may, to the state of california, the only blue stayed on track to end the year, are you ready, with a surplus. it is only $36
meanwhile, also reports that a growing number of states are ending this fiscal year with not deficits -- it's hard to imagine, but with surpluses. among them, of course, is the state of texas. taxes -- texas is projecting an almost $9 billion surplus. it has a republican governor. a fellow by the name of rick perry. north dakota is projecting over one-half billion dollars surplus . energy independence. north dakota has a republican governor. ohio is expecting a billion dollars surplus from the...
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the senate barbershops run at the annual deficit of close to $400,000 every year. john: anything run by the government loses money. >> exactly. the sergeant at arms says there in the process of privatizing which could take millennium. john: of the privileges, they get to send out free mail. propaganda. one of the reasons incumbents are rarely thrown out. the top guys spend 300, 400,000 per year. john: send thompson e-mails. you're spending $400,000 per year reeducating here is to join see, you're spending way too much money. do digitally. it's free. john: it was worse. they used to be able to cash checks. >> every lawmaker used to have his own gold plated shaving cut in the grip --. they've gotten rid of that. john: progress. thank you. next, something very different. glenn beck now says he is a libertarian. how can that be true? he supported the bank bailout. warrantless wiretaps. i will confront him about this plan next. ♪ @í ♪ john: and now for something completely different, this year glenn beck said he is a libertarian. he is popular. he has millions of f
the senate barbershops run at the annual deficit of close to $400,000 every year. john: anything run by the government loses money. >> exactly. the sergeant at arms says there in the process of privatizing which could take millennium. john: of the privileges, they get to send out free mail. propaganda. one of the reasons incumbents are rarely thrown out. the top guys spend 300, 400,000 per year. john: send thompson e-mails. you're spending $400,000 per year reeducating here is to join...
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creating massive deficits that will be difficult to repay. very high unemployment, we have increasing government regulations, business entrepreneurship is down, is more difficult to start businesses, so i think we are on the wrong track. stuart: would you consider yourself a critic to the obama administration this far? >> mia critics? i am a capitalist. i am a conscious capitalists. capitalism, i am supportive of the administration to the degree dozens are not supported. stuart: i have to confess i have not always been very kind to whole foods. >> you are forgiven, you are forgiven. stuart: i've always thought of whole foods they placed the customers are essentially the liberal elite. and yet you obviously are capitalist with a strong libertarian bent, so i apologize if i have ever been nasty to your company, which i think is a terrific company. go. chastise me if you need. >> whole foods is for everything. it is not just for the liberal elite. whole foods has all kinds of customers and they don't conform to one type of politics or one type o
creating massive deficits that will be difficult to repay. very high unemployment, we have increasing government regulations, business entrepreneurship is down, is more difficult to start businesses, so i think we are on the wrong track. stuart: would you consider yourself a critic to the obama administration this far? >> mia critics? i am a capitalist. i am a conscious capitalists. capitalism, i am supportive of the administration to the degree dozens are not supported. stuart: i have to...
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a deficit of $17 trillion that that is no drop in the blog. joining us now is scott hodge. why isn't anything done about it? >> it is so hard to get that last dollar of income. you have to raise the compliance costs on everybody in order to get the people in the sort of cash economy to fess up and provide all their income to the irs. this would further increase their compliance burden. a lot of people think that is far too much to get that last dollar of taxes. dagen: even though we talk about these big numbers as a nation, we have some of the highest compliance levels in that entire world. we are complaining about, well, nothing. speak it is a bit ironic. we have seen attempts in the past. most recently, with the affordable care act which had the increased requirements for businesses to provide 1090 nines to people they pay more than $600 for services. that created a huge backlash in the businesscommunity. we can see that even these small towns to try to get at the underground economy are met with a lot of complaints by the business community because of the higher complian
a deficit of $17 trillion that that is no drop in the blog. joining us now is scott hodge. why isn't anything done about it? >> it is so hard to get that last dollar of income. you have to raise the compliance costs on everybody in order to get the people in the sort of cash economy to fess up and provide all their income to the irs. this would further increase their compliance burden. a lot of people think that is far too much to get that last dollar of taxes. dagen: even though we talk...
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the president is for a balanced program to reduce the deficit and i think that's the right way to do it. stuart: you're an economist. >> if you're going to crush social security and medicare as the alternative that most americans would be for that. stuart: you're an economist do you think that tax increases of any kind in in economy are good. real fast, austan. >> it wouldn't be now, so that's a false choice. stuart: paul conway, if we get tax increase on the rich, any kind of tax increases, what's your forecast of what it does to the economy? >> well, i'm happy that austan is a supply cider, this is what is going to happen. those who create the money and means to do it to employ the americans who are dropping out are going to get penalized once again for the fifth year in a row by this president who has a callus disregard about putting people back it work and understanding the very fundamentals of economic those who have money invest in growth when they're optimistic in an operating environment to employ people and that's not going to happen if that budget is submitted like that. it
the president is for a balanced program to reduce the deficit and i think that's the right way to do it. stuart: you're an economist. >> if you're going to crush social security and medicare as the alternative that most americans would be for that. stuart: you're an economist do you think that tax increases of any kind in in economy are good. real fast, austan. >> it wouldn't be now, so that's a false choice. stuart: paul conway, if we get tax increase on the rich, any kind of tax...
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whether it was earmarks, rants, that flies in the face of wanting to do is the budget deficit. >> you go back to the 1960s and government spending is about 28% of gdp. today is about 40%. dagen: there are people that i know that our archconservative and they are like, look at downtown. it got refurbished through this government grant. >> as long as there is money to be handed out, you will try to get your fair share of it. the way you get tax reduction and that system is to try to get more government spending shifted your direction. everybody is fighting for a subsidy. that is what happens when you get government spending up to 40% of gdp. connell: everyone has always said we cannot get good people or the right people to run for office. it is not about money. it does not really ever come down to money, in terms of how much salary you get. >> the life of a congressman is very different. a lot of them are living out of their offices. they do go off to think tanks quickly. the ones that are the brightest and most capable. they may stay longer in congress, but i do not dig it would change
whether it was earmarks, rants, that flies in the face of wanting to do is the budget deficit. >> you go back to the 1960s and government spending is about 28% of gdp. today is about 40%. dagen: there are people that i know that our archconservative and they are like, look at downtown. it got refurbished through this government grant. >> as long as there is money to be handed out, you will try to get your fair share of it. the way you get tax reduction and that system is to try to...
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charles, you say is 10% in france and what they're going to raise is a pittance of the 125 million deficit. less than 1/2 a percent of that. i've got to tell you i would not be shocked if somewhere along the line the guy wakes up his popularity is plummeting, industry is crying and soccer players leave because they make more than a million euro a year. he's in trouble, and the country is in trouble. >> soccer is their achilles heel. how is this for seeing the light. a green energy chief says no more federal subsidies, why he's against it, new at 10, next. >> wednesday, april 3rd, a wind power guy who says get rid of the green energy subsidies. he doesn't want them. we have a nevada business guy moving business to california from no tax to high tax going against the tide. why is he doing that? of course, the target, a terrific year, shrugged off every problem, it is down just a little so far today. ♪ we've got all the stories coming up for you, but, first, where have we heard this before? the obama administration is pushing banks to give home loans to people with weak credit. they are ask
charles, you say is 10% in france and what they're going to raise is a pittance of the 125 million deficit. less than 1/2 a percent of that. i've got to tell you i would not be shocked if somewhere along the line the guy wakes up his popularity is plummeting, industry is crying and soccer players leave because they make more than a million euro a year. he's in trouble, and the country is in trouble. >> soccer is their achilles heel. how is this for seeing the light. a green energy chief...
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meaning that saves america more money than the payroll tax cut and strengthen the dollar and approve the deficit and put a lid on inflation. did you address that, and how many republicans and how many democrats were signing, actually signed that letter? >> well, let me just say that of the 22 lieutenant governors, they were all lieutenant governors who signed that, but you look the at the big picture. over 70% of americans in polling showed that they support the pipeline and of that, a vast majority of democrats so it's not a partisan issue, it's about common sense ideas and it's about something that is shared across the table by all americans hobble this americans who believe it's the right thing to do. this pipeline has been studied more than any other pipeline and we've addressed concerns and you're right the safest way to deliver oil to refineries in the southern part of our countries. it's safe, common sense, we believe it's the right thing for this country. let me remind everybody that america is the the largest consumer of energy in the world, or the largest consumer of petroleum products
meaning that saves america more money than the payroll tax cut and strengthen the dollar and approve the deficit and put a lid on inflation. did you address that, and how many republicans and how many democrats were signing, actually signed that letter? >> well, let me just say that of the 22 lieutenant governors, they were all lieutenant governors who signed that, but you look the at the big picture. over 70% of americans in polling showed that they support the pipeline and of that, a...
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Mar 31, 2013
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this is anna projection of the deficit that the deficit is continued to be ongoing >> are those solutions going to be available prior to an action item to approve the upcoming special request? >> the special request will be before you in next weeks budget competent. the budget two year budget plan is anticipated to go to the commission on april 23rd so it will be released 10 days after this committee >> thank you. >> i think
this is anna projection of the deficit that the deficit is continued to be ongoing >> are those solutions going to be available prior to an action item to approve the upcoming special request? >> the special request will be before you in next weeks budget competent. the budget two year budget plan is anticipated to go to the commission on april 23rd so it will be released 10 days after this committee >> thank you. >> i think
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Apr 1, 2013
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it's a significant portion of that deficit. of that amount there are a few things that are really driving those enemies. again, t again, t again, the -- it will match our expenditures from year to year. and we're in the process of rebuilding san francisco general hospital on the progress side we're on track in terms of the bond project and in terms of the timeline and it demonstrates our ability to move heard. there are expenditures on the furniture and equipment and on some of the transition costs that are not bond eligible costs those need to be paid out of the general fund costs. so that's one of our challenges ahead. and then, of course, our general increases in the costs of doing business in the department. so we clearly have a lot of work to do. right now we're still in the process of working with our commission because of the size of the deficits and the challenges that we have based on our projection of our current year deficit. we've extended those discussion later into the spring that we generally do. we're going to b
it's a significant portion of that deficit. of that amount there are a few things that are really driving those enemies. again, t again, t again, the -- it will match our expenditures from year to year. and we're in the process of rebuilding san francisco general hospital on the progress side we're on track in terms of the bond project and in terms of the timeline and it demonstrates our ability to move heard. there are expenditures on the furniture and equipment and on some of the transition...
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Apr 5, 2013
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so it shows a deficit, but that revenue deficit is offset by an expenditure savings. we didn't have to make a transfer to get those revenues. so if you net that out -- i know this is convoluted -- >> chair farrell: the point being if you in netted that out then the surplus -- the expend tier deficit is greater than shown here. >> that's correct. that's correct. >> chair farrell: and then you're talking 31.2 versus 41.8 highlighted below. >> exactly. so the 45.9 million dollar number in the controller's six month report that ties to the controller's six month report are based on our projections for the six month report. we essentially base those on five months worth of actual data. and since that time, in the few months since we've been able to revise those projections down to about 31.2. the biggest causes of that change since the the six month report are on the next slide. the largest item is on salary and benefit spending. that's from a couple of things. the hospitals have both been very focused on trying to control their costs. but secondarily, we've had our -- whe
so it shows a deficit, but that revenue deficit is offset by an expenditure savings. we didn't have to make a transfer to get those revenues. so if you net that out -- i know this is convoluted -- >> chair farrell: the point being if you in netted that out then the surplus -- the expend tier deficit is greater than shown here. >> that's correct. that's correct. >> chair farrell: and then you're talking 31.2 versus 41.8 highlighted below. >> exactly. so the 45.9 million...
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none of them will add to the deficit. i will lay out priorities in greater details in the days ahead. the budget doesn't spend beyond our means and it does not make harsh, unnecessary cuts that only serve to slow the economy. we'll keep our promise to an we willpulation and keep our promise to the next generation by investing in the fundamentals that have made america strong -- manufacturing, innovation, energy, and education. that is what it will take to make sure america remains strong in the years ahead and to leave something better behind for our kids. thank you. have a great weekend. >> hi. i'm kansas governor brownback. last weekend we celebrated easter, the resurrection of jesus, . we need new life in our economy. washington is broke. change is coming. you say you do not change america by changing washington. you change america by changing the states. that is exactly what republican governors are doing across the country. the arctic in a different approach to grow the economies and fix the government with ideas tha
none of them will add to the deficit. i will lay out priorities in greater details in the days ahead. the budget doesn't spend beyond our means and it does not make harsh, unnecessary cuts that only serve to slow the economy. we'll keep our promise to an we willpulation and keep our promise to the next generation by investing in the fundamentals that have made america strong -- manufacturing, innovation, energy, and education. that is what it will take to make sure america remains strong in the...
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Apr 3, 2013
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that is part of the deficit. and i think there are a couple of things -- the way i think about our structural deficit is there are two issues. there's the amount that we're spending overbudget, and that's about $45 million per year, that we're spending over our budget. and then there's how much of that $45 million can we cover r revenues in excess of budget. so the 19 million that we are not receiving as we transition to managed care means that instead of us being able to cover additional portion of that revenue and perhaps use that revenue to fix it in the budget, we're here asking you for general fund. >> supervisor wiener: of that 45 -- i'm talking after this fiscal year, the ongoing structural defers, 45 million -- deficit, 45 million, how much do you anticipate needing all of that to be filled from the general fund? or are there -- i assume there are other revenues that are going to cover a portion of that. so my fundamental question is the structural deficit, where the general fund may need to step in, year
that is part of the deficit. and i think there are a couple of things -- the way i think about our structural deficit is there are two issues. there's the amount that we're spending overbudget, and that's about $45 million per year, that we're spending over our budget. and then there's how much of that $45 million can we cover r revenues in excess of budget. so the 19 million that we are not receiving as we transition to managed care means that instead of us being able to cover additional...
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sovereign deficits are growing out of control and balance of payment deficits we should again not been addressed even germany if you look at germany's sovereign debt to g.d.p. it's at a level that used to make us south american countries bankrupt only four or five years ago so even germany which is held up as a power again it is almost a brink which is not necessarily going to get much better but you know germany holland the northern countries are in a better shape than the sock than the south and until they really get their arms around how they're going to get these sovereign deficits hundred control this problem is going to roll on roll on roll one day or beside prison another day it will be another day it will be france and to the actually get their finances in in order it can only slowly but surely get worse final twenty seconds for those poor cypriots lovely island the finance minister says it's not clear when the capital controls are going to be lifted a lot do you predict. well these things take a long time normally they say it's going to be next week next month but if you look
sovereign deficits are growing out of control and balance of payment deficits we should again not been addressed even germany if you look at germany's sovereign debt to g.d.p. it's at a level that used to make us south american countries bankrupt only four or five years ago so even germany which is held up as a power again it is almost a brink which is not necessarily going to get much better but you know germany holland the northern countries are in a better shape than the sock than the south...
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Apr 5, 2013
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so it's -- the bottom line is this is a deficit. and fortunately, there are revenues that can help pay for this. but if they didn't have the deficit, those revenues would fund next year's budget. on page 4 of our report we pointed out the proposed supplemental would appropriate, as has been pointed out, $12.7 million from the state revenue loss in general fund reserves and that's shown in table 1, page 3 of our report. i know the supervisors know this but there are two additional sup premental appropriations pending before the board of supervisors, the public defender's office, 751312 and the sheriff's department 3,458.970. if the board approves it the state revenue loss reserve lch no balance and the general fund reserve will have a remaining balance of 21.3 million. on page 7 of our report, as has been discussed by the committee, fiscal year 09-10 through 12-13 the department of public health's budget for both hospitals, san francisco general and laguna honda, regarding salaries and -- and for laguna honda materials and supplies h
so it's -- the bottom line is this is a deficit. and fortunately, there are revenues that can help pay for this. but if they didn't have the deficit, those revenues would fund next year's budget. on page 4 of our report we pointed out the proposed supplemental would appropriate, as has been pointed out, $12.7 million from the state revenue loss in general fund reserves and that's shown in table 1, page 3 of our report. i know the supervisors know this but there are two additional sup premental...
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the deficit problem is a problem we created together. it is by working together that we will be able to address the nation's debt. >> you can find this video and .orgrs at student cam >> your calls and comments on "washington journal." then a discussion on negotiations over a rise nuclear program -- iran's nuclear program. this is at 10:00 a.m. eastern. >> the sequester will reduce our grants by about five percent, odch equates to 20 mill -- $2 million that will be licenseesd among the and stations i have described. we have taken a 13% cut in our federal funding over the last two years. if the federal government had sustained the cuts we have sustained, the budget would the $500 billion smaller than it is now. we have made a significant contribution to deficit reduction and retirement of the federal debt. >> the impact of spending cuts on public television tonight on "the indicators. -- the communicators." >> mary schiovo discusses the closing of air traffic control towers due to budget cuts and the impact on a deed and job losses. louis
the deficit problem is a problem we created together. it is by working together that we will be able to address the nation's debt. >> you can find this video and .orgrs at student cam >> your calls and comments on "washington journal." then a discussion on negotiations over a rise nuclear program -- iran's nuclear program. this is at 10:00 a.m. eastern. >> the sequester will reduce our grants by about five percent, odch equates to 20 mill -- $2 million that will be...
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budget deficit and. address that you know they're claiming a one billion dollar deficit every single year and they come out with what we call the press release. in eight of the last ten years we've actually had surpluses but they started talking about a huge budget deficit that in effect did not exist then they come back and when they actually do the budget they have another number but when that budget is correctly audited it comes out to not having. a huge deficit at all so this is something that the board of education has been very very clever in doing. karen appreciate you coming on the show and telling us about your struggle over there in chicago that was karen lewis president of the chicago teachers union thank you very much for having. president obama this week signed into law a bill that could have huge consequences for the future of the food industry in the country the agricultural appropriations bill has been monsanto protection act by critics of the agricultural giant and that's because a provi
budget deficit and. address that you know they're claiming a one billion dollar deficit every single year and they come out with what we call the press release. in eight of the last ten years we've actually had surpluses but they started talking about a huge budget deficit that in effect did not exist then they come back and when they actually do the budget they have another number but when that budget is correctly audited it comes out to not having. a huge deficit at all so this is something...